24 September 2018, India:
Digital payments firm Obopay has acquired customer technology firm Mubble. The financial details of the deal have not been disclosed.
After the acquisition, Ashwin Ramaswamy, Co-founder and CEO of Mubble, will join OBOPAY.
“The strategic acquisition of Mubble is a significant step in strengthening OBOPAY’s service offerings in Indian and international markets. Together with OBOPAY’s technical edge and Mubble’s value additions in consumer class applications, we would create products and solutions that will bring about measurable and sustainable difference to our customers. The recommendation algorithms and data analytics capabilities of Mubble will significantly boost our services in all the markets where we operate,” said Shailendra Naidu, Chief Executive Officer, OBOPA.
Shailendra Naidu added, “The Mubble platform is ingrained with two fundamental applications – one which provides personalized content in a social context and a utility application built on a smart recommendation framework. These are two broader synergy areas that OBOPAY intends to capitalize through this acquisition.”
“Mubble has always believed in the power of leveraging the data streams from high frequency consumer use-cases, be it recharge transactions or news consumption; as an entry into the payments space. In OBOPAY, we see a dream fit towards this vision of ours,” said Ashwin Ramaswamy, Co-founder and Chief Executive Officer, Mubble.
Mubble was founded by Ashwin Ramaswamy, Pranav Jha and Raghvendra Varma in 2013. It’s app enables smartphone owners to track and control their prepaid accounts. It automatically creates a bill for your prepaid account by tracking your balances, deductions and data usage.
OBOPAY was founded in 2005. It’s managed digital payment business solution services product enables seamless on boarding of the digital payment software platform to help manage real time mobile money payment solution processes across multiple access digital money transformation channels.
(Image – OBOPAY)